NEW ORLEANS--(BUSINESS WIRE)--Please replace the release (dated March 7, 2019) with the following corrected version. All references to Brightpoint Education, Inc. should be Bridgepoint Education, Inc.
The corrected release reads:
BRIDGEPOINT EDUCATION INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC INVESTIGATES BRIDGEPOINT EDUCATION, INC. - BPI
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Bridgepoint Education, Inc. (NYSE: BPI).
On March 7, 2019, the Company disclosed that its financial statements for the three and nine months ended September 30, 2018 would be restated, and should not be relied upon, due in part to a revenue recording process that was “not designed with sufficient precision,” leading to “material” accounting errors relating to revenue, provision for bad debts, accounts receivable and deferred revenue, which resulted in the overstatement of revenue and expenses.
On this news, the price of Bridgepoint’s shares plummeted.
KSF’s investigation is focusing on whether Bridgepoint and/or its officers and directors violated state or federal securities laws.
If you are a Bridgepoint shareholder and have suffered losses, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-bpi/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
